PIA Press Release2006/10/22

Tacloban City (October 22) -- Mr. Francis Chua, the President of the Filipino Chinese Chamber of Commerce and Industry, could not be more right when he urged the business sector to reciprocate the strong leadership of President Gloria Macapagal Arroyo by creating a strong and globally competitive business sector.

With the President’s thrust to continue enhancing the business-friendly environment in the country, Mr. Chua hit the mark when he said that the Philippine business sector must compete globally or be left behind in the sidelines. This, he said will be doing injustice to the Filipino people and to the leadership who has always been focused on the attainment of economic growth and prosperity which will redound to the benefit of the entire Filipino people.

Indeed, the economic indicators have never been as rosy as it is now with the strong leadership of President Arroyo. The Peso has never been more stable, the interest rate favorable to the investors, the stock market has surged records high. For once the international finance community is confident on the economy of the country and that confidence radiates to the business sector of the country.

Mr. Chua’s call is a manifestation of the partnership that the government and the private sector must establish to ensure the stability of the economic growth which the country continues to enjoy with the determination of the current leadership in the person of President Arroyo.

It was a statement of the stand of the business sector to unite the sector and to concentrate on the sector’s business which is business, to take the path of productivity and concord rather than mingle with the political hubbab.

The rosy economic indicators must be taken note of because it is today more than ever that the business sector have the confidence to compete globally or be forever left behind by the other ASEAN countries.

The only way to be globally competitive is the strong belief in the Filipino nation, to stay in the right course with the national leadership stewarding good governance, to continue the efforts and be assured that it won’t be very long to make the country rolling along with other globally competitive economies in Asia and in the world. (PIA 8) [top]